R2001-147 AUTHORIZING TERMINATION OF AGREEMENT

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-3- Upon the occurrence of a Property Owner Event of Default, IEP shall, upon 30 days' written notice, be entitled to any remedies available and appropriate at law or in equity to recover payments due IEP from Property Owner. IEP shall not on the basis of such Event of Default, remove or repossess the Equipment. Property Owner agrees to pay all cosLs and expenses of IEP, including reasonable attorney's fees and expenses, which may be necessary to enforce the [erms of this section. B. •The following events shall constitute IEP Events of Default under this Agreement: (i) Failure of IEP to instal(, repair, replace, or maintain the Equipment in accordance with the terms of this Agreement. (ii) Failure of IEP to comply with any covenant contained in this Agreement. Upon the occurrence of an IEP Event of Default, Property Owner may, upon 30 days written notice to IEP, perform any obligation of IEP. Amounts expended by the Property Owner in performing such IEP obligations, including reasonable attorney fees and expenses which may be necessary to enforce the terms of this section, shall be promptiy reimbursed to Property Owner by IEP, payable without de�uction, counterclaim or setoff. Upon the occurrence of an IEP Event of Default, Property Owner shall be entitled to any additional remedies available and appropriate at law or in equity. 6. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Iilinois. In the event that any words, phrase, clause, sentence, or other provision hereof shall violate any applicable statute, ordinance or rule of law in effect or which shall become effective during the term of this Agreement in any jurisdiction in which it is used, such provision shall be ineffective to the extent of such violation without invalidating any other provisions. 7. Entire Agreement. The preceding terms and conditions, together with the attachments referenced herein, constitute the entire agreement of the parties. Any changes or modifications to the Agreement shall be in writing, signed by both parties. This Agreement supersedes all prior agreements, either oral or written, between Property Owner and IEP, with respect to the subject matter.